More than 60 officers swooped on homes and businesses across Telford today as part of a huge probe into mortgage fraud and money laundering.

The investigation, led by detectives from West Mercia’s Serious and Organised Crime Unit, saw four private properties in the College ward area of Wellington raided and another raided in Admaston, at about 7am.

A further property in Wolverhampton was also raided.

Two hours later detectives swooped on three business premises, in Wellington and Hadley, where a haul of documents were seized.

A further property in St Georges was also raided this afternoon as part of the investigation.

Five men and two women were arrested on suspicion of fraud and money laundering.

Detectives said the arrested people were landlords involved in the private rental trade.

Two other men were also arrested for obstructing the police. They were all being quizzed at Malinsgate Police Station and Shrewsbury Police Station this afternoon.

Detective Chief Inspector Andy Hughes, head of SOCU, said the investigation involved “serious, organised criminality”.

He said: “The people we have arrested are suspected of being involved in mortgage fraud and money laundering through rented properties.

“They are all heavily involved in the private rental trade in Telford & Wrekin and we are appealing to tenants that they should come forward if they have concerns about the way their landlord has been operating financially.”

Mr Hughes added: “Often, this sort of financial crime – sometimes seen as victimless, white-collar crime – is actually connected to serious criminality.”

He added: “The police now have the power not just to prosecute fraudsters but, if they are found guilty, to take back the money and assets we believe they have gained through criminal activity.”

He said today’s warrants and arrests had come after months of planning and would continue for some time.